The iPhone maker, together with 10 of its suppliers, will jointly put almost $300 million into the China Clean Energy Fund over the next four years, it said in a statement Thursday. By 2020, Apple hopes to create 4 gigawatts of renewable energy across the world, it added.

Apple intends to use the funds to invest in and develop clean energy projects that will power almost a million homes (or 1 gigawatt of renewable energy) across China.

"At Apple, we are proud to join with companies that are stepping up to address the climate challenge," said Lisa Jackson, Apple's vice president of environment, policy and social initiatives.

"We are thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet," she added.

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